Ikuti Forum Perniagaan & Pelaburan Bersama 2025, Zon Ekonomi Khas Johor-Singapura (JS-SEZ) bersama Menteri Pelaburan, Perdagangan dan Industri (MITI), Tengku Datuk Seri Zafrul Abdul Aziz.
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00:00Thank you, thank you very much for that warm welcome and Sheikh Novan Amiruddin.
00:05A very good afternoon, esteemed delegates, ladies and gentlemen.
00:08Incredible to be here with you all at the inaugural Johor Singapore Special Economic Zone, JSSEZ, Inaugural Joint Business and Investor Forum.
00:17May I, of course, now welcome on stage to join me, the esteemed Yang Berhormat Senator, Tengku Datuk Sri Utama Zafrul Tengku Abdul Aziz, Minister of Investment, Trade and Industry, Malaysia.
01:00The goal of the day is fostering business expansion and transforming talent and technology.
01:05Plenty to chew upon, especially during lunchtime.
01:09Ladies and gentlemen, the JSSEZ is where bold business meets boundless opportunity.
01:14We are hoping to drive expansion, transform talent and ignite the future of tech innovation.
01:23We are now going to actually flash a QR code for Slido on, of course, the digital screen behind us.
01:31And please feel free to ask pertinent questions about the JSSEZ via Slido while we have our minister with us here.
01:39QR code is being flashed.
01:42You can also, of course, upvote your preferred question for Yang Berhormat's attention towards the end of this rapid-fire discussion.
01:51Yang Berhormat, good afternoon.
01:53Hope you're feeling well.
01:55Good afternoon.
01:57I'm okay.
01:58And how are you?
01:58Very well, indeed.
01:59Yang Berhormat, can we please now begin perhaps your initial thoughts on not only the strong support that you've put behind the JSSEZ,
02:10but also the importance of creating this SEZ for closer economic integration between Malaysia, Singapore,
02:18and how you see things rolling out perhaps over this year?
02:23Yes.
02:24Well, first of all, I'd like to say thank you to our strategy partners today
02:28and all those who have been instrumental in ensuring the success of today's event.
02:35Without your support today, I think we can't have this event.
02:38And the purpose of this forum is to get people, especially companies, to be more involved in JSSEZ.
02:48So thank you to our colleagues from Johor and also from Singapore who are here today.
02:55And I'd like to see more questions later.
03:00Be open.
03:01This is completely an open-door policy of JSSEZ.
03:07So if there are tough questions, I will try and answer.
03:11If there are tougher questions, the PermSec is here from Singapore.
03:16And also my deputy minister, YB Liu, is somewhere there.
03:22And of course the ex-co from Johor is also here.
03:25So although I'm the only one sitting here, can I also invite them if these questions are difficult?
03:33Absolutely.
03:34We can of course send a mic over to the nearest.
03:37Okay.
03:38Yes.
03:39So back to your question.
03:41JSSEZ, it's, you know, you heard the speeches by the chief minister, by Deputy Prime Minister Gan.
03:50They have been formulated in such a way that we want to see the right spillover.
03:55The right spillover to Malaysia, to Singapore, and of course Johor in particular.
04:00We have seen how today we are faced with various challenges, right, geo-economic challenges, geopolitical challenges.
04:11And it's time to step up and see what we can do that is within our control.
04:16And so JSSEZ, with the support of Malaysia and Singapore and the state of Johor, we can fill that vacuum, right?
04:25You know, people are talking about where should they move their investments?
04:30Where can they base their companies?
04:34It's JSSEZ, together with Singapore and Johor.
04:37So many of you who are here today will probably want to know what are the benefits of JSSEZ.
04:47How can that spillover benefit your companies, right?
04:52So for me, JSSEZ, and I discussed with you earlier this morning, is first of its kind.
04:58I hope I'm right.
04:59It's one of the only first cross-border SEZ in ASEAN, right?
05:06And we try to make sure that we leverage on the comparative advantage,
05:13on the competitive advantage of both Malaysia and Singapore, especially to Johor,
05:17and then be a window as well, and giving opportunities to other companies
05:23who want to have access in markets, not just JSSEZ, but across ASEAN and ASEAN+.
05:31And today in the speech as well, the Chief Minister mooted the idea of RCEP.
05:36You know, as you know, RCEP members, the Regional Comprehensive Economy Partnership members
05:41comprised of ASEAN member states, as well as five other nations,
05:46Korea, Japan, China, of course, Australia, and New Zealand.
05:51So we can start with inviting our dialogue partners, our strategic partners,
05:56to come and look at the opportunities of JSSEZ.
06:02Thank you. Thank you very much for that overview just to get things started, Yambar Hormat.
06:06Now, of course, a couple of data points.
06:09I do love my data points for everyone's knowledge,
06:11and perhaps you can query about some of these as well.
06:14So the JSSEZ initiative, ladies and gentlemen, for your information,
06:19aims to attract at least about 100 high-value projects
06:23and also generate, hopefully, 20,000 skilled jobs by 2030.
06:29That's in less than five years' time.
06:31So a lot is going to happen.
06:33We'll also, of course, then go into a little bit of a discussion around the fact that
06:38Johor also, late last year in November, was in the news because of the fact that they are going to announce
06:46and introduce and implement also premier incomes for those working in high-value manufacturing jobs,
06:55starting at RM4,000 for the minimum wages and RM5,000 for those who have actually higher diploma qualifications.
07:04So all this sounds like a really good start.
07:06But, Yambar Hormat, I want to pick up on something you briefly mentioned.
07:10Now, let's go into shifting the focus to the state of the global economy,
07:15since, of course, President Trump's Liberation Day tariffs.
07:19It's not even been 20 days.
07:22It feels like an entire quarter has passed by.
07:25Nevertheless, what are your thoughts on Malaysia as ASEAN Chair
07:30and also our position on multilateralism,
07:34given this very interesting conjunction in global economics right now?
07:39So thank you very much.
07:42I had the opportunity to meet my colleagues from other ASEAN member states.
07:48We had a meeting, in fact, two weeks ago.
07:51We had a virtual meeting where fortunately all economic ministers are able to attend that meeting
08:00and we came up with a joint statement.
08:03I think, I believe most of you are aware that we all are in agreement
08:08that we continue to support this rule-based multilateral global trading system.
08:15Basically, we support the principles of multilateralism.
08:20And at the same time, we all also reach consensus
08:22that the way forward is to engage the United States,
08:29not to retaliate through retaliatory measures.
08:33So this is something that we all are in agreement.
08:38And at the same time, we understand that each country in ASEAN will have its own challenges,
08:44which will have its own concerns.
08:46So we will approach this both at the multilateral platforms through ASEAN
08:52and other platforms that are available, that we are members of.
08:57And at the same time, bilaterally, we also continue to engage the U.S.
09:02I think it's important for countries like Malaysia and Singapore,
09:06which is very much involved in the critical part of the global supply chain.
09:12And after all, we are an open economy.
09:14We are a very trading nation as well.
09:17So again, this is where, you know, JS as a exec is important
09:21because we are in a geographical location where that supply chain
09:27that is supporting many industries go pass through this area.
09:34And I think it's important that we continue to highlight this to all our partners,
09:40including the United States, of how Malaysia, Singapore, JSEZ, ASEAN,
09:47all can play an important role in supporting the global supply chain.
09:52And it is actually and will benefit the world
09:57and definitely will benefit the United States as well.
10:01Absolutely.
10:02And perhaps let's cycle back a little bit, Yang Berhormat,
10:05into looking at JS as easy
10:07and what's really attractive here for multinational firms,
10:12which will also foster regional development then
10:15through the strong relationship we have always maintained with Singapore.
10:19Okay.
10:20In this room, we also have Minister of Ministry of Finance who are present here.
10:26I think one of the key person is here, John.
10:29I'm not sure whether you're still here.
10:31But before this event,
10:36he and my deputy, Sek Jen, reminded me to share with the audience
10:40this latest news
10:42where the incentives that have been announced
10:47are now in the process of being gazetted.
10:50But while waiting for it to be gazetted,
10:52you don't have to wait for the approvals to be gazetted,
10:57or not approvals, sorry,
10:57the incentives to be gazetted,
11:01what can happen is you submit your proposal,
11:07MIDA and MOF and MITI and all the relevant agencies
11:11will then, together with the state government, of course,
11:14present to the NCI while waiting.
11:17Do not wait, do not have to wait.
11:20And Ministry of Finance will give approval on case-to-case basis.
11:25So we want to move fast, right?
11:27So to all of you,
11:29if someone tells you wait for it to be gazetted,
11:32say it's not right.
11:33That's not true.
11:34You can already start submitting your proposals,
11:38your submissions to the relevant authorities,
11:42where those incentives that have been announced
11:44will then be presented to the National Committee of Investment,
11:49NCI, which is co-chatted by MOF and MITI.
11:53So that's one.
11:54I think on incentives,
11:56tomorrow there will be a session
11:58talking about,
12:01in fact, I was told there will be clinics
12:03where many companies are then involved,
12:07not only on the supply chain,
12:08but also what are the benefits
12:10and how to go about it.
12:12All the relevant agencies,
12:13including local councils,
12:14are present tomorrow.
12:16So you'll be discussing details
12:18that you may need to know.
12:20We are there to support
12:21both our ministry,
12:24our agencies,
12:25the Joho State Government,
12:27and with the presence of banks here,
12:29they are also there to support
12:30financing or any other access to funding
12:34that may be required.
12:36And finally,
12:37the last point that I want to highlight
12:39is that we are also focusing on ensuring
12:44that as much spillover as possible is achieved,
12:47that will be gained by the SMEs as well.
12:52So I think SMEs play a role,
12:56a key role,
12:57in the growth of GSSZ.
13:00So this is another agenda
13:01that we want to push for,
13:03and we want to ensure
13:05that we monitor this closely.
13:07and the IMFC Johor,
13:10Johor IMFC,
13:11so far,
13:13you know,
13:13it was open in February last,
13:15this year,
13:15in the Forest City.
13:17I was told that
13:18close to 89% of the projects
13:21in 2023
13:23is already operational,
13:24the one that's approved,
13:26and more than 72%
13:28of the projects
13:29that was approved in 2024
13:30have been implemented.
13:32So we are monitoring.
13:33So similarly,
13:34when you talk about incentives
13:35from fiscal tax incentive,
13:37I think you saw
13:37the list of tax incentive
13:39for companies
13:39and for workers as well,
13:41for employees,
13:42and in infrastructure,
13:44the government has committed
13:45a sizable amount,
13:47close to 5 billion ringgit
13:48on infrastructure
13:49to support,
13:51and at the same time,
13:51we want to build the ecosystem
13:53on funding,
13:54which is also important.
13:56On infrastructure,
13:57it's on energy,
13:58green energy as well,
13:59many opportunities
14:01that are already
14:04in the pipeline,
14:07so this is where
14:07this forum,
14:10the next couple of sessions
14:11and tomorrow,
14:12will be important
14:13for us to share
14:14that roadmap.
14:16Thank you very much,
14:17Yang Berhormat,
14:17for highlighting
14:18a couple of really
14:19important points,
14:20actually,
14:20when it comes to
14:21the establishment
14:22of special economic zones.
14:23We've covered just now
14:25with what Yang Berhormat
14:25shared,
14:26cross-border governance,
14:28which is quite often
14:29under-explored
14:30when it comes to
14:30public discourse,
14:31but it's really crucial
14:32for operational success
14:34once the FDI
14:35translates into
14:36the actual companies
14:37coming over
14:38and operationalizing
14:40because all the
14:41systemic friction points,
14:42the potential
14:43for legal mismatches,
14:44custom lag,
14:46digital infrastructure
14:47disparities,
14:48they can be overcome
14:49by operationalizing
14:50the rich investments.
14:51And that regulatory clarity,
14:54as Yang Berhormat
14:54has encouraged,
14:55you can already begin
14:56by putting in
14:57your applications
14:58because they will be viewed
14:59on a case-by-case basis.
15:02Ladies and gentlemen,
15:03we hope you haven't
15:03forgotten that you
15:04can be asking questions
15:06via the QR code
15:08on Slido
15:08that is being flashed
15:10on the digital screen.
15:11You can also then
15:12proceed to upvote
15:14specific questions
15:15to highlight
15:16for Yang Berhormat
15:17to answer.
15:18YB,
15:18now let's move along
15:20into looking at
15:22actually talent circulation
15:25within ASEAN
15:26and talent mobility.
15:28Now this has been
15:28something which
15:29Malaysia even
15:30did push for
15:32and encourage
15:33during our
15:34previous term
15:35as ASEAN chair
15:36back in 2015.
15:37Now in 2025,
15:39so much has changed
15:40and the incredible
15:42opportunity
15:43which we have
15:44right now
15:45to harness
15:46and ensure
15:47that we are encouraging
15:48also ASEAN talent
15:50to come towards
15:52JSSEZ
15:53as their destination
15:55of choice.
15:56A few thoughts
15:56on that.
15:57Yes.
15:58Now just looking
15:59at the statistic
15:59for talent
16:00and we did
16:02a survey recently.
16:04Many companies,
16:06if you say
16:07what are three key challenges,
16:09one of those three
16:10is talent.
16:10and if you ask
16:13any companies,
16:15not just in Malaysia
16:17or Singapore,
16:17it's actually a global
16:18challenge as well,
16:20especially in sectors
16:22that are being promoted
16:23throughout the world.
16:25So for Malaysia,
16:26for JSSEZ
16:27in particular,
16:28we are working closely
16:30with the talent agencies here.
16:33Also the Johor State Government
16:35is supporting us
16:36and this is where
16:38in my speech
16:38I mentioned about
16:40the importance
16:40of a whole-of-government
16:42approach,
16:42but it's actually
16:43more than just
16:43a whole-of-government
16:44approach,
16:45it's a whole-of-nation
16:46approach
16:46where we require
16:47companies also
16:48through higher education
16:50ministries,
16:51the women resource
16:53ministries,
16:54the companies,
16:55the R&D centres,
16:57all we have to work
16:58together
16:58to prepare the pipeline.
17:00This is, again,
17:01I would like to encourage
17:02all of you in this room
17:03to participate
17:05in many of the programmes
17:06that are available
17:07so that we have
17:09the right kind of skills
17:11that you require.
17:13And again,
17:14apart from the tax incentive
17:16for those skills,
17:18I think I saw the list
17:19of incentives given
17:20for our professionals
17:21who are required
17:23to support certain industries,
17:26we are also here
17:27to ensure that we support
17:28the companies
17:29to train
17:30the individuals
17:31that you need.
17:32So it's a win-win
17:33situation.
17:35One of the discussions
17:36that is led by METI
17:38together with
17:39the higher education ministry,
17:41with the economy ministry
17:41and the human resource
17:45ministry
17:45is to have even
17:47training funds
17:49for industries
17:50to then employ.
17:52We call it
17:53academy dalam industry
17:55which is,
17:56you know,
17:57we have the
17:57academy in within
17:59the industries itself.
18:01So here,
18:02I'd like to invite
18:04companies who are
18:05investing in the JSSZ
18:07to participate.
18:08We will then
18:09ensure that
18:11you are ready
18:12to support
18:13our programme
18:15because these programmes
18:16will then
18:17in turn support
18:18the talent requirement
18:19of the industry.
18:21So definitely
18:22it's not an
18:22overnight solution
18:24but we can
18:25but in the short term
18:26this hopefully
18:27some of the
18:28fiscal incentives,
18:29some of the
18:30loosening of
18:31regulations.
18:32Recently,
18:33Maida has been
18:33given the approval
18:34to give visa
18:36for foreign workers,
18:38foreign professionals,
18:39sorry,
18:40not workers,
18:40foreign professionals
18:41to come in,
18:42right?
18:42You know,
18:44because we made
18:45to understand
18:45that some of you
18:46when you want
18:46to invest
18:47in Johor
18:48or in Malaysia
18:49when you come in,
18:50you know,
18:50the immigration
18:51and we'll be
18:52wondering why
18:52you come in
18:53three or four times
18:54a month
18:54or ten times
18:55in the last
18:56two,
18:56three months.
18:57So all this
18:58ease of doing
18:58business is there.
19:00And can I also
19:01highlight that,
19:02you know,
19:02we want to
19:04do new things,
19:06want to do
19:07things differently
19:08but it's easier
19:10said than done.
19:10the regulatory
19:12frameworks is there,
19:13the current
19:14guidelines is there,
19:15the legal frameworks
19:16similar to regulatory
19:18frameworks are there.
19:19So how do we
19:20cut across
19:21these red tapes?
19:23So that's why
19:24when I discuss
19:26with the
19:27Chief Minister,
19:28with MB Johor,
19:29let's do
19:29a bit of
19:31what do you call it,
19:32sandbox
19:33where we will
19:37then work
19:37with the industries,
19:39hopefully we can get
19:40EDB and Enterprise
19:41Singapore,
19:42so involve bringing
19:42the companies there
19:43and sometimes
19:45the solution
19:45comes from the
19:46companies,
19:46the ideas come
19:47from the companies
19:47and we test it
19:48because I know
19:49sometimes my own
19:51colleagues are
19:51worried about
19:52trying new things
19:53but if we do it
19:54in a very controlled
19:55environment
19:56and do a few
19:57pilot,
19:58then hopefully
19:59some of the
20:00success through
20:01this pilot
20:02or through
20:02the sandbox
20:03can then be
20:04implemented
20:04more widely,
20:06especially
20:06for JS
20:07SCZ.
20:09Thank you,
20:10Yangwar Harmat.
20:11And of course,
20:11picking up on a point
20:12you made there
20:13about regulatory
20:14sandboxes,
20:15innovation,
20:16let's perhaps
20:17now pick up
20:18on the benefits
20:20for domestic
20:21SMEs
20:22versus
20:23foreign
20:23multinationals
20:25because you had
20:25of course
20:26a mention
20:26ensuring
20:27inclusive
20:28economic
20:29spillover,
20:30particularly for
20:31Johor-based
20:32businesses
20:32or MSMEs,
20:34SMEs from
20:34around Malaysia
20:35who want to
20:36locate or
20:36relocate here.
20:38Yes.
20:39For SMEs
20:41and micro
20:42SMEs,
20:43these are of course
20:44important backbone
20:45of our economy
20:47and similar
20:49to I believe
20:51Singapore as well,
20:52we are here
20:53to support SMEs
20:54from Singapore
20:55and SMEs
20:55from Johor
20:56if they want
20:57to expand.
20:59Naturally,
21:00Johor is
21:01an area
21:03where it's easier
21:04to expand
21:05given the proximity
21:06and given
21:08the accessibility
21:09to many,
21:11many markets.
21:12So for me,
21:14there are three
21:15things I would
21:15like to share
21:16to you,
21:16SMEs.
21:16One,
21:17I hope
21:17ABANG and CMB
21:18you can continue
21:19to support
21:20the SMEs
21:21and UOB
21:22is also here.
21:23I believe
21:23they have a session
21:24also this evening.
21:25So for us,
21:26we want to facilitate
21:27we'll get
21:28the financing
21:28in,
21:31but there is
21:32a discussion
21:33now I think
21:33YB Liu
21:34is also
21:34looking at this
21:36where government
21:36comes out
21:37with support
21:38in forms of
21:38not just grant
21:40but also
21:41in terms of
21:42guarantees
21:42and some
21:43of the key
21:44industries.
21:44So this is
21:45being deliberated
21:47and already
21:47presented
21:48and I must say
21:50that we are
21:50going to
21:51celebrate
21:52the one-year
21:52National Semiconductor
21:53Strategy next month.
21:55So this is
21:55some of the
21:56new thinking
21:57about how
21:57government support
21:58SMEs will be
22:00announced
22:01and JSSZ
22:02hopefully
22:03will be
22:03a net
22:03beneficiary
22:04of that.
22:06Number two
22:06for SMEs
22:07is the
22:07supply chain.
22:08That's why
22:08tomorrow
22:08please attend
22:10the clinic
22:10on the
22:11supply chain
22:11where
22:12the relevant
22:13stakeholders
22:14will be
22:15engaging
22:15many SMEs
22:17on
22:17showing
22:19where
22:20SMEs can
22:21play a role
22:22where SMEs
22:22fit in
22:23the whole
22:23supply chain
22:24supporting
22:24not just
22:25the multinational
22:26but also
22:26the large
22:27local companies
22:28based here
22:28in Malaysia
22:29based here
22:30in Johor
22:30and of course
22:31spillover
22:32from the
22:33Singapore side
22:34as well.
22:35And on
22:35final one
22:36on SMEs
22:37we want
22:38SMEs
22:39to also
22:39access
22:40to the
22:41ASEAN market.
22:42One of the
22:43priority
22:44economic
22:44deliverables
22:45as ASEAN chair
22:46is for us
22:47to upgrade
22:48the ASEAN
22:49Trade and Goods
22:50Agreement
22:50and at the
22:51same time
22:51to get
22:52SMEs
22:53and micro
22:53SMEs
22:53more involved
22:54we are also
22:55hopefully
22:56will conclude
22:57substantially
22:59anyway
22:59the
23:00Digital Economic
23:00Framework Agreement
23:01where this
23:02again will
23:03support
23:03SMEs
23:04and
23:05JS
23:06SCZ
23:07is an area
23:08where
23:08a base
23:09where
23:09you have
23:10access to
23:11great logistics
23:12to support
23:14your exports
23:15to markets
23:16in ASEAN
23:17for SMEs
23:17so
23:18again
23:20please
23:21for those
23:22of you
23:22who have
23:24friends outside
23:25who are SMEs
23:25and who are
23:26SMEs
23:28in the room
23:28please
23:29be comforted
23:31that there is
23:32a strong push
23:33towards SMEs
23:34as we can see
23:35that big
23:37spillovers
23:38can be achieved
23:38if we get
23:39SMEs involved
23:40so we want to see
23:42JS
23:42SCZ
23:43growing
23:44but the growth
23:45has to be growth
23:46that is also
23:46inclusive
23:47thank you
23:48thank you
23:49this of course
23:51also then
23:52naturally aligns
23:53with Malaysia's
23:53broader national
23:54agendas
23:55which include
23:55Industry 4.0
23:57New Industrial
23:58Master Plan
23:58NIMP 2030
23:59and also
24:00Net Zero
24:01targets
24:02given that
24:02sustainability
24:03of course
24:04is at the
24:04core
24:04of all FDIs
24:06that we are
24:07having inside
24:07the country
24:08as well
24:09from there
24:10perhaps we can
24:11just close out
24:12with some
24:13additional thoughts
24:14that you have
24:15on the RCEP
24:17and looking at
24:17how RCEP
24:19could maybe
24:19then go into
24:21also attracting
24:22investors from
24:22Australia
24:23China
24:24Japan
24:25New Zealand
24:26South Korea
24:27we are not only
24:27looking into
24:29ASEAN alone
24:29right
24:30and particularly
24:31given the
24:31current
24:32volatility
24:33of global
24:33economics
24:34ASEAN is
24:35looking particularly
24:36attractive
24:37Tamina
24:39when are you
24:39opening the
24:40floor to
24:40questions
24:41I would love
24:44to open it
24:44right now
24:45let me
24:46answer
24:47just kidding
24:48I was just
24:48trying to
24:49buy time
24:49to think
24:50of the
24:50answer
24:50okay
24:52so when
24:52definitely
24:54you mentioned
24:54RCEP
24:55and if you
24:56heard Deputy
24:56Prime Minister
24:57Gunn's speech
24:58earlier today
24:59he also
25:00mentioned about
25:00CPTPP
25:01he mentioned
25:01about the
25:02other GCC
25:02he mentioned
25:03about EU
25:04I'm not sure
25:04whether he
25:05mentioned
25:05CPTPP
25:05but he
25:05definitely
25:06mentioned
25:06GCC
25:07and he
25:07mentioned
25:07EU
25:08so I
25:08think
25:09ASEAN
25:09as a
25:10block
25:10of course
25:10through RCEP
25:11through our
25:12five partners
25:13we can also
25:13use RCEP
25:14as a platform
25:15for us
25:16to engage
25:16other
25:17economic blocks
25:18be it
25:19GCC
25:19because
25:20RCEP
25:21is where
25:21all 10 ASEAN
25:22countries
25:22are a member
25:24of
25:24in this
25:25partnership
25:25so
25:26for us
25:27for Malaysia
25:28and Singapore
25:29this is a chance
25:29for us
25:30to take
25:30the leadership
25:31at GS
25:32as an example
25:33where two
25:34countries
25:35can actually
25:35work together
25:36to ensure
25:38that
25:38it is a
25:39win-win
25:39solution
25:41of course
25:42there will
25:42be challenges
25:43along the way
25:43no one
25:44can deny
25:44that
25:44any
25:45partnership
25:45there will
25:45always be
25:46challenges
25:46but
25:47at the
25:47end of the
25:48day
25:48we must
25:49look at
25:49the bigger
25:50picture
25:51we must
25:51see
25:52how
25:52both
25:53parties
25:54benefit
25:55from this
25:56similarly
25:56if you
25:57look at
25:58what you
25:59mentioned
26:00about
26:00RCEP
26:01we also
26:02need to
26:02consider
26:03how do
26:03we upgrade
26:04RCEP
26:05itself
26:05opportunities
26:06to see
26:07how
26:08countries
26:09today
26:09can then
26:10engage
26:11more
26:11freely
26:12in areas
26:13not just
26:13in goods
26:14but also
26:15in services
26:15for example
26:16so my
26:17final note
26:17on this
26:18is that
26:19given the
26:20challenges
26:20that we
26:21face
26:21today
26:21given
26:23the
26:23uncertainties
26:24that we
26:24face
26:25today
26:25what
26:26is
26:26many people
26:27say
26:27the only
26:28thing
26:28that is
26:28certain
26:29is
26:29uncertainty
26:30so
26:30for
26:31Malaysia
26:31speaking
26:33on behalf
26:33of
26:34Miti
26:34in particular
26:35our plan
26:36is to
26:36continue
26:37to
26:37engage
26:37industries
26:38all
26:39the
26:39other
26:40relevant
26:40stakeholders
26:41on how
26:42do
26:42we
26:42mitigate
26:42this
26:43and at
26:44the
26:44same
26:44time
26:44we
26:45want
26:45to
26:45one
26:46of
26:46the
26:46mitigating
26:47factors
26:48that
26:48we
26:48have
26:49considered
26:49is
26:50engagement
26:51through
26:51the
26:52various
26:52multilateral
26:53platforms
26:53that we
26:53have
26:54multilateral
26:55agreements
26:55that we
26:55have
26:56and
26:57at
26:57the
26:57same
26:57time
26:58ensuring
26:58that
26:59we
27:00continue
27:00to
27:01support
27:01the
27:02principles
27:02of
27:02multilateralism
27:03and
27:04we
27:05must
27:05continue
27:06to
27:06fight
27:06for
27:07that
27:07belief
27:08and
27:08for
27:08those
27:09ideals
27:10that
27:10have
27:10brought
27:11us
27:11peace
27:12and
27:12prosperity
27:12thank you
27:14thank you
27:15very much
27:15for that
27:16Yang Berhormat
27:16and also
27:17just
27:17highlighting
27:18a couple
27:18of
27:19key
27:19interesting
27:19points
27:20based
27:20on what
27:21Yang Berhormat
27:21shared
27:22so
27:22as of
27:23January
27:232025
27:24ladies
27:25and
27:25gentlemen
27:25the
27:26Malaysian
27:26government
27:26offers
27:27a
27:27very
27:27comprehensive
27:28tax
27:28incentive
27:29package
27:29for
27:30JSSEZ
27:31now
27:31this
27:31includes
27:32a
27:32special
27:325%
27:33corporate
27:34tax
27:34rate
27:34for
27:35up
27:35to
27:35wait
27:36for
27:36it
27:3615
27:37years
27:38and
27:39this
27:39is
27:39for
27:39qualifying
27:40manufacturing
27:41and service
27:41activities
27:42such as
27:43AI
27:43quantum
27:44computing
27:45medical
27:46devices
27:46aerospace
27:48manufacturing
27:49and global
27:50service hubs
27:51also
27:51also
27:51additionally
27:52attracting
27:53and
27:53retaining
27:54migrant
27:56talent
27:56that is
27:57professional
27:57knowledge
27:58workers
27:59in the
27:59zone
27:59are
28:00eligible
28:00for
28:00a
28:0115%
28:02personal
28:02income
28:03tax
28:03rate
28:03and
28:04this
28:04is
28:04for
28:0410
28:05years
28:05which
28:06of course
28:06then
28:06enhances
28:07the
28:07appeal
28:08for
28:08skilled
28:08professionals
28:09so
28:10thank you
28:11very much
28:11for the
28:11conversation
28:12in so
28:12far
28:13Yang Berhormat
28:13we're
28:14actually
28:14waiting
28:15on
28:15to
28:15just
28:16see
28:16whether
28:16we
28:16have
28:17any
28:17of
28:17the
28:18questions
28:18that
28:18have
28:18come
28:19in
28:19from
28:19our
28:20esteemed
28:20delegates
28:21no
28:29questions
28:29can we
28:32have
28:32the
28:32questions
28:33that
28:33have
28:33come
28:34in
28:34via
28:34slido
28:35yeah
28:37we have
28:37slido
28:37because
28:38we know
28:38all of
28:38you are
28:39shy
28:39to
28:39ask
28:39directly
28:40all right
28:42thank you
28:43very much
28:43I
28:43actually
28:44have
28:44happened
28:44to
28:45receive
28:45them
28:45on
28:45my
28:45phone
28:46if
28:46you
28:46don't
28:46mind
28:46Yang Berhormat
28:47let
28:48us
28:48have
28:48a
28:48look
28:49at
28:49a
28:49couple
28:49of
28:49them
28:50now
28:51anonymous
28:51ask
28:52thank you
28:53very much
28:53anonymous
28:54for the
28:54question
28:55Yang Berhormat
28:56anonymous
28:56ask
28:57are there
28:57efforts
28:58to
28:58streamline
28:59policies
29:00between
29:00Singapore
29:01and
29:01Malaysia
29:02or
29:02Johor
29:02to
29:03promote
29:03growth
29:04and
29:04investment
29:04in
29:05the
29:05JS
29:05as
29:06easy
29:06thoughts
29:07on
29:07this
29:07yes
29:08I
29:08think
29:08the
29:08short
29:08answer
29:09is
29:09yes
29:09as I
29:10mentioned
29:11just
29:11now
29:11this
29:11is
29:12where
29:12it's
29:13important
29:13that
29:14we
29:14have
29:14some
29:14pilot
29:15programs
29:15to
29:16see
29:16whether
29:17some
29:19of
29:19the
29:20red
29:20tapes
29:20can
29:21be
29:21reduced
29:21this
29:22is
29:22one
29:22way
29:22of
29:23course
29:23regulatory
29:23frameworks
29:24regulatory
29:24we
29:27talk
29:27about
29:28standardizing
29:28in a
29:29way
29:29but
29:29you
29:30know
29:30I
29:31think
29:31what
29:31companies
29:31want
29:32from
29:32my
29:32discussion
29:33with
29:33all
29:33of
29:33you
29:34is
29:34that
29:34you
29:35want
29:35to
29:35ensure
29:36that
29:36when
29:37you
29:37do
29:37something
29:38the
29:39rules
29:39that
29:40are
29:40applied
29:40in
29:41Singapore
29:41are
29:42also
29:42the
29:42same
29:42rules
29:43that
29:43apply
29:43in
29:43Malaysia
29:44and
29:44vice
29:44versa
29:45because
29:45or
29:46else
29:46it's
29:47hard
29:47to
29:47do
29:48business
29:49when
29:49you
29:49want
29:50the
29:50whole
29:50idea
29:50of
29:50JS
29:51between
29:52Johor
29:52and
29:52Singapore
29:53is
29:53to
29:54increase
29:56productivity
29:56increase
29:57efficiency
29:57and of
29:58course
29:58at
29:58the
29:58end
29:59of
29:59the
29:59day
30:01improve
30:02your
30:03bottom
30:03line
30:03so
30:04this
30:04is
30:04where
30:04I
30:05think
30:06what
30:07I
30:07mentioned
30:07earlier
30:08today
30:08MB
30:09also
30:10mentioned
30:10it
30:10first
30:11it's
30:12important
30:12to
30:12have
30:13that
30:13what
30:15do
30:15you
30:15call
30:15it
30:15again
30:15the
30:19sandbox
30:19right
30:20to
30:20have
30:21that
30:21sandbox
30:21to
30:22test
30:22some
30:23of
30:23these
30:23ideas
30:24to
30:25see
30:25whether
30:25it's
30:27of
30:27course
30:27most of
30:28you
30:28will
30:29say
30:29it's
30:29commercially
30:29viable
30:30but
30:30we
30:30as
30:30policy
30:31makers
30:31want
30:32to
30:32see
30:32whether
30:32it's
30:33practical
30:33and
30:34it
30:35has
30:35the
30:35right
30:35impact
30:36to
30:37the
30:37bigger
30:37economy
30:38thank
30:40you
30:40thank
30:40you
30:41very
30:41much
30:41for
30:41that
30:41young
30:41berhormat
30:42unfortunately
30:43that
30:43does
30:44bring
30:44us
30:44to
30:44the
30:44end
30:45of
30:45our
30:45time
30:45as
30:46we
30:46do
30:46have
30:46to
30:47continue
30:47on
30:47with
30:48the
30:48post
30:48lunch
30:48program
30:49which
30:49I'm
30:49sure
30:49our
30:50delegates
30:50are
30:50much
30:50excited
30:51a little
30:52short
30:52I
30:53hope
30:53you
30:54are
30:54happy
30:55with
30:55some
30:55of
30:56the
30:56answers
30:56that
30:56young
30:57berhormat
30:57has
30:57been
30:57able
30:58to
30:58share
30:58ladies
30:59and
30:59gentlemen
30:59may
31:00I
31:00request
31:00a
31:00huge
31:01round
31:01of
31:01applause
31:01for
31:01young
31:02berhormat
31:02for
31:02spending
31:03time
31:03with
31:03us
31:03telling
31:04us
31:04a
31:05little
31:05bit
31:05more
31:05about
31:06the
31:06JSSEZ
31:07thank
31:08you
31:09very
31:10much
31:10Tamina
31:10and
31:10thank
31:11you
31:11all
31:11for
31:11supporting
31:12this
31:12event
31:12as
31:13I
31:13said
31:14please
31:14fully
31:15utilize
31:15the
31:16facilities
31:17or
31:17the
31:17discussions
31:18and
31:19this
31:20is
31:20not
31:20a
31:20one
31:20off
31:20event
31:21we
31:21will
31:22definitely
31:22have
31:22many
31:23more
31:23events
31:23and
31:24I
31:24was
31:24talking
31:25to
31:25my
31:25team
31:25and
31:26I
31:26will
31:26try
31:30more
31:30on
31:31the
31:31specific
31:32sectors
31:32going
31:33forward
31:33because
31:33from
31:34my
31:34discussion
31:34before
31:35this
31:35meeting
31:36many
31:36of
31:36you
31:36said
31:36can
31:36we
31:37have
31:37discussion
31:38on
31:38the
31:38energy
31:38sector
31:39what
31:40are
31:40the
31:40concerns
31:41because
31:41today
31:42is
31:42very
31:42general
31:42of
31:42very
31:43broad
31:43we
31:44can
31:44then
31:44go
31:44and
31:45talk
31:46and
31:46engage
31:46specific
31:47sectors
31:47on
31:48specific
31:48concerns
31:48so
31:50we
31:50have
31:51many
31:51flagship
31:51as
31:51well
31:52so
31:52this
31:52is
31:52where
31:53I
31:53think
31:53this
31:53is
31:54a
31:54kickoff
31:54and
31:56when
31:56we
31:56then
31:56have
31:57more
31:57events
31:58that
32:00will
32:01engage
32:01the
32:01relevant
32:02sectors
32:03and
32:04try
32:04and
32:04look
32:04at
32:04it
32:05more
32:06go
32:07deeper
32:07into
32:08some
32:08of
32:08the
32:08discussions
32:08so
32:09thank
32:09you
32:10thank
32:11you
32:11thank
32:11you
32:11very
32:11much
32:11for
32:11that
32:12not
32:13just
32:13the
32:13merger
32:14of
32:14economies
32:14but
32:15the
32:15fusion
32:15of
32:15innovation
32:16as
32:16well
32:16as
32:17opportunities
32:17that
32:18is
32:18the
32:18JS
32:18SEZ
32:19thank
32:20you
32:20very
32:20much
32:20once
32:20again
32:21on
32:21behalf
32:21of
32:22Yang
32:22Berhormat
32:22and
32:23Khuzafrul
32:23and
32:23myself
32:24Tamina
32:24Kalsji
32:25on
32:25behalf
32:26of
32:26the
32:26Nyaga
32:26Awani
32:26team
32:27from
32:27Astro
32:27Awani